|
Guangdong Banks Begin Tightening First Home Loans
China Construction Bank (0939.HK, 601939.SH) and Guangdong Development bank has raised the down payment on loans for first-time home purchases from 20% to 30%, while some other Guangdong province banks, including Bank of China (3988.HK,601988.SH), have implemented a reduced, 15% discount on benchmark interest rates available to first-time home buyers, reports Nanfang Daily.
The previous policy of a 30% discount on benchmark interest rates has not been dropped by all banks, the report said. Agricultural Bank of China and the Industrial and Commercial Bank of China (1398.HK, 601398.SH) continue to grant 20% down payment and 30% discount rates to qualified first-time home purchasers, the report says.
Rumor said in January some banks in Beijing had already reduced the discounts on benchmark interest rates available to first-time home buyers from 30% off to 15% off.
|
